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Speaker 1: Live from our nation's capital. This is Bloomberg's Sound On.

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Speaker 1: We're gonna talk all about the policy prescriptions of the

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Speaker 1: Biden administration. We're not going to hear anymore about Operation

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Speaker 1: warp Speeds. They're gonna be calling it the COVID response.

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Speaker 1: We're talking right now about jockeying amongst Republicans. Bloomberg Sound On,

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Speaker 1: the insiders, the influencers, the insiders. Biding has commented again

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Speaker 1: and again that he will unite the country. Who would

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Speaker 1: you think Biden has to watch in terms of moderate defectors.

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Speaker 1: The House has been voting for this stimulus package basically

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Speaker 1: for months. Bloomberg is sound On with Kevin Surreley on

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Speaker 1: Bloomberg Radio. President Joe Biden says that of American adults

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Speaker 1: will be able to get a vaccine, and just three

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Speaker 1: weeks plus the preview of his infrastructure plan that's coming midweek.

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Speaker 1: My name is Kevin Curreli. I'm the chief Washington correspondent

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Speaker 1: for Bloomberg Television and for Bloomberg Radio. I am accompanied

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Speaker 1: by Bloomberg Politics and Policy contributor Jennie sean Zo, as

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Speaker 1: well as Boyd Matheson. Boyd is the former chief of

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Speaker 1: staff to Republican Senator Mike Lee of Utah, and he

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Speaker 1: is now the host of KSL News radios inside sources

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Speaker 1: as well. We begin tonight with the big story story,

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Speaker 1: which is President Biden urged Americans to not let up

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Speaker 1: on COVID nineteen, just as he was delivering remarks earlier

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Speaker 1: from the White House in which he said that of

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Speaker 1: US adults will be eligible to get a COVID nineteen

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Speaker 1: vaccine in just three weeks. The President added that his

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Speaker 1: administration will more than double the number of pharmacies where

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Speaker 1: shots are available, even as cases begin to rise. Take

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Speaker 1: take a listen to the sound on the shots from

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Speaker 1: President Biden. The war against COVID nineteen is far from one.

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Speaker 1: This is deadly serious. We share the sentiment of Dr Lynskey,

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Speaker 1: the head of our Center for Today's Control and Prevention,

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Speaker 1: the CDC, expressed earlier today, this is not a time

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Speaker 1: to lessen our efforts. Now is not the time to celebrate.

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Speaker 1: It is time to do what we do best as

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Speaker 1: a country, our duty, our jobs, take care of one another,

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Speaker 1: and fight this to the finish. The President went on

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Speaker 1: to urge local leaders to reinstate the mask mandate. Here's

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Speaker 1: the sound of the mask mandate. I'm reiterating my call

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Speaker 1: for every governor, mayor and local leader to maintain and

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Speaker 1: reinstate the mass mandate. Please, this is not politics. Reinstate

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Speaker 1: the mandate if you let it down. But the developments

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Speaker 1: in terms of the policy were quite optimistic. Again, just

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Speaker 1: to reiterate that of US adults will be able to

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Speaker 1: get it, will be eligible rather to get a COVID

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Speaker 1: nineteen vaccine in three weeks, and the administration is more

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Speaker 1: than doubling the number of pharmacies where shots are avail leable.

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Speaker 1: He went on to say that nearly all US adults

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Speaker 1: will be able to get a shot within five miles

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Speaker 1: of their home. Jeanne Schanzano, I mean, it's interesting to

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Speaker 1: hear the the sound on his speech compared to the

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Speaker 1: bullet points and the developments and the news that our

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Speaker 1: colleague Josh wyn Grove reported on the Bloomberg terminal, because

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Speaker 1: all of the developments on the policy front seem very positive.

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Speaker 1: They do. And you know, as you are just playing

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Speaker 1: that sound and reiterating what the President said, I think

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Speaker 1: we all have to take a step back and say

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Speaker 1: how remarkable it is that we are where we are

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Speaker 1: a year after the pandemic started a little more than

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Speaker 1: a year the idea that all adult Americans um would

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Speaker 1: be able to to be vaccinated within five miles of

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Speaker 1: their home at a pharmacy. Obviously, you know it's not

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Speaker 1: going to be coverage for certain, but that is remarkable.

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Speaker 1: And you compare where we are compared to a place

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Speaker 1: like the EU, and we have been very focused, we

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Speaker 1: meaning the United States and both administrations on getting us

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Speaker 1: to this point. So I think that is to the

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Speaker 1: credit of the United States and the government that said, Um,

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Speaker 1: it is interesting to hear the President calling again for

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Speaker 1: you know, the mask mandates to be reinstated as the

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Speaker 1: weather gets nice. I think it's getting very, very tough

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Speaker 1: for people with more people vaccinated to understand. And I

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Speaker 1: think they need to be clear on this message why

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Speaker 1: we have to do that. And I think he's trying

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Speaker 1: to fight an uphill battle here. Um. But we'll see

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Speaker 1: what happens. Well. I think, you know, as we've talked

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Speaker 1: about on this program, no one wants to have in

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Speaker 1: the United States have what what happened in parts of

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Speaker 1: Europe where they had additional lockdowns and whatnot. And you know,

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Speaker 1: I think it's important, of course you check in on that.

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Speaker 1: But at the same time, I mean, you know, anyone

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Speaker 1: can get a shot. Adult is going to be eligible

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Speaker 1: to get a shot in just three weeks. The weather's nice, BOYD.

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Speaker 1: Here in d C. Over the weekend street was reopened.

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Speaker 1: I mean it was nice, BOYD. I mean, can't we

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Speaker 1: can't we at least bask in the glow of some optimism?

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Speaker 1: Can I be optimistic? Boyd? You can be optimistic for sure,

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Speaker 1: as long as you keep your faith in the American

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Speaker 1: people as opposed to yeah, with your basket, and you

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Speaker 1: should be able to do that, just fine. And uh

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Speaker 1: and the interesting thing two is, uh, you know there

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Speaker 1: are a lot of places that are doing incredibly well.

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Speaker 1: Uh Utah happens to be one of those. And it

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Speaker 1: is beautiful here today too. By the way, you should

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Speaker 1: come out this way if you want a little sunshine

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Speaker 1: and fresh air. But we're all way ahead of the curve.

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Speaker 1: Uh in terms of when when the President said, you know,

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Speaker 1: we're gonna have a website and people are going to

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Speaker 1: be eligible in May, and hopefully you can have a

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Speaker 1: barbecue in July, uh Utah was already there. We already

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Speaker 1: had things going. We already had things all the way

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Speaker 1: open up for anyone who wanted a shot could sign

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Speaker 1: up to get one. Uh. And so I do think

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Speaker 1: it's really important that we we keep the principles of

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Speaker 1: federalism in place here, that we remember that these laboratories

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Speaker 1: of democracy are are better at adapting and adjusting what

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Speaker 1: needs to be done, uh, in order to keep things

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Speaker 1: in check. And so we're we're doing things really well

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Speaker 1: and very swiftly here in the state of Utah. Other

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Speaker 1: places are doing what all other places are doing less well. Um.

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Speaker 1: But the important thing is that we give that control.

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Speaker 1: Just a sweeping mass mandate from d C. I don't

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Speaker 1: think it's going to cut it, especially as the sun

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Speaker 1: starts to come out and the barbecue start to fire up.

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Speaker 1: Let me uh no, I agree. It's it's it's almost

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Speaker 1: barbecue season. Surrell's Grills. Christine Barado, executive producer, that's what

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Speaker 1: you called it, anyway, I uh, let me grab these

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Speaker 1: numbers on my term. I wrote them down here. They

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Speaker 1: are okay. So the US is on pace too soon

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Speaker 1: administer three million doses a day of COVID nineteen vaccine

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Speaker 1: as the supply genie increases and States widen eligibility New

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Speaker 1: York the headline cross my terminal this afternoon just UH

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Speaker 1: boosted their their eligibility UH as well earlier today. For

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Speaker 1: folks over thirty. After stalling at about two point five

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Speaker 1: million doses a day, the rate of shots administered in

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Speaker 1: the U s. Genie has started to again climb on Friday, Saturday,

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Speaker 1: and Sunday. Over the weekend, the US reported a total

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Speaker 1: of more than ten million shots and arms, a record

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Speaker 1: three day stretch that helped push up the average right.

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Speaker 1: According to the Bloomberg Vaccine Tracker, I've got sounds on

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Speaker 1: the number of shots from President Biden. He spoke earlier

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Speaker 1: this afternoon. Take a listen to the sound on the

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Speaker 1: shots from President Biden. The amount of vaccines that are

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Speaker 1: going to be available for vaccinated vaccination sites will be

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Speaker 1: a new record thirty three million doses of vaccine this week.

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Speaker 1: Professor's a no, look, I mean, I know, we've got

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Speaker 1: to praise the government officials both parties operation warp speed

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Speaker 1: Biden administration. But this is also a massive victory for

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Speaker 1: the private sector as well as scientists and and folks

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Speaker 1: who are not serving in government. Right it is, and

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Speaker 1: and they private sector has come through in a way

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Speaker 1: um that you know, I don't think we could have

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Speaker 1: hoped or imagined eleven months ago or twelve months ago.

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Speaker 1: So absolutely they should be applauded, and the way that

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Speaker 1: they have worked with the public sector is incredibly impressive.

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Speaker 1: But I don't want to reign on your and Boyd's

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Speaker 1: picnics here as we in the spring. I'm sorry, and

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Speaker 1: I have to say for no homework, and I love

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Speaker 1: when Boyd quotes Louis Brandyce and laboratories of democracy, but

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Speaker 1: I think we need to go back and we need

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Speaker 1: to be very clear on why the president and the

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Speaker 1: administration are making this push for mask mandates and others

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Speaker 1: at the federal level. I am in New York, as

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Speaker 1: you know, and New York and New Jersey have the

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Speaker 1: highest rates of infection in the country. You know. A

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Speaker 1: day ago the report was we were averaging about five

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Speaker 1: cases for every a hundred thousand residents and only sur

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Speaker 1: passed by the by New Jersey. So while there is

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Speaker 1: obviously a differential across the states, and I appreciate that,

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Speaker 1: we also have to remember there are still variants here,

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Speaker 1: and there's still the potential for spread and so I

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Speaker 1: do think we need to appreciate I'm sorry, I don't

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Speaker 1: want to be you know, so, you know, a Debbie

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Speaker 1: downer here, But I think we have to appreciate why

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Speaker 1: the president is being so um, you know, emphatic about

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Speaker 1: the mask mandates. I said it a couple of months ago.

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Speaker 1: I'll say it again. You know, if it's snow and

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Speaker 1: in Alaska doesn't mean that Florida gets a snow day.

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Speaker 1: You're following me. But I do hear your point, and

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Speaker 1: I think it's why Raquel Wallenski, the head of the

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Speaker 1: Centers for Disease Control and Prevention, pleaded did you did

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Speaker 1: you see this? Pleaded with Americans to wear masks and

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Speaker 1: stick with COVID nineteen mitigation measures, warning of quote impending

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Speaker 1: doom end quote as cases, hospitalizations, and debts again unfortunately

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Speaker 1: did begin to rise. So we got these dueling headlines,

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Speaker 1: which was is remarkable. I was talking to my my

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Speaker 1: colleague Josh Winger on the White House team about this

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Speaker 1: earlier today. On the one hand, you've got President Biden

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Speaker 1: with some great policy news. The population in America will

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Speaker 1: be eligible for a vaccine with and to get a vaccine.

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Speaker 1: Just as importantly, within five miles of where they live. Um.

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Speaker 1: And then at the same time, the head of the CDC,

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Speaker 1: you know, talking about quote impending doom end quote uh

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Speaker 1: if if folks you know, don't don't take these precautions,

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Speaker 1: uh safely coming up, we're gonna talk about the economics

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Speaker 1: of this. But but I'll give you the final word

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Speaker 1: here in terms of just that that sense of hearing

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Speaker 1: from the c d C in which she says that

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Speaker 1: there could be impending doom quickly in just thirty seconds. Yeah,

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Speaker 1: And I do think it's important to recognize the genie's

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Speaker 1: point that the government has a role in this. To

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Speaker 1: be short, let's make no mistake about it. Uh. And

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Speaker 1: it is a tag team and the American people have

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Speaker 1: a duty to be responsible. So I do agree we

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Speaker 1: shouldn't be spiking the football. But I'm also very optimistic

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Speaker 1: that the American people but can do the right thing

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Speaker 1: in the right way. But that always is going to

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Speaker 1: start in our own homes, in our own neighborhoods and communities,

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Speaker 1: and Americans stick can step up and do that. We've

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Speaker 1: seen him do it before, and that we have to

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Speaker 1: have confidence that they'll do again. Well, I can't spit

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Speaker 1: the football. But maybe you can take a football, go outside,

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Speaker 1: and if you're socially distant, you can wear a mask

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Speaker 1: and gloves and toss it. I'm Kevin Surley much more

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Speaker 1: with the panel. This is Bloomberg. This is Bloomberg. Sound

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Speaker 1: On with Kevin Surrel on Bloomberg Radio. I'm Kevin Sirelli,

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Speaker 1: Chief Washington corresponding for Bloomberg Television and for Bloomberg Radio,

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Speaker 1: accompanied by Bloomberg Policy contributor Jeanie shown Zano and Boyd Matthews,

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Speaker 1: Informed chief of Staff to Senator Mike Lee. We were

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Speaker 1: talking earlier about the pandemic. Now let's pivot to infrastructure.

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Speaker 1: Did you see this? President Joe Biden is expected to

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Speaker 1: unveil Genie, his infrastructure plan on Wednesday in Pittsburgh, Pittsburgh, Pennsylvania.

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Speaker 1: And I was thinking about this in the prep work

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Speaker 1: where back in two thousand and fifteen. I know, it

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Speaker 1: seems like forever ago, nearly six years ago. Labor Day weekend,

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Speaker 1: president at the time. Joe Biden appeared at a Labor

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Speaker 1: Day parade in where else Pittsburgh? Remember this Genie, and

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Speaker 1: he marched in the parade with the union workers and

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Speaker 1: the union members. He's got a long story with Pittsburgh.

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Speaker 1: And it was at a time in which then former

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Speaker 1: Secretary of State Hillary Clinton at all but locked up

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Speaker 1: the nomination, and people were wondering if by him was

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Speaker 1: going to challenge Clintson back in two thousand and sixteen,

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Speaker 1: and he ultimately decided not to do it, and he

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Speaker 1: waited for more years. But Genie, I mean, I think

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Speaker 1: of that because it's clearly, uh, back in two thousand

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Speaker 1: and fifteen and now nearly six years later, Uh, he

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Speaker 1: is thinking of the coalition that he will need to

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Speaker 1: advance infrastructure, which is going to be working class manufacturing

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Speaker 1: supporters and union unions in particular. You're right, and I

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Speaker 1: do remember that very very well. And he wants to

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Speaker 1: make the case he's he's been saying this certainly throughout

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Speaker 1: this campaign and administration, if not years, As you mentioned

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Speaker 1: that when he talks about this massive infrastructure bill that

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Speaker 1: he wants to put forward, it is first and foremost

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Speaker 1: to reimagine the US economy for workers, for the middle class.

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Speaker 1: And he talks a lot, as you know, for stand

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Speaker 1: about bringing back this idea of respect for work and

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Speaker 1: so I do think the choice of Pittsburgh is not

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Speaker 1: lost on any of us. You know. I also think

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Speaker 1: we have to remember there's some cynicism here, because, as

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Speaker 1: Bill Maher said the other day, there's been an infrastructure

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Speaker 1: Week in this country every year for the last decade,

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Speaker 1: if not longer. And so it gets to the point

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Speaker 1: whereas people start to say, are you going to be

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Speaker 1: able to make this happen? And he's got one maybe two,

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Speaker 1: they're saying, today's shots at reconciliation. But if he starts

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Speaker 1: to add I believe more into this bill than just

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Speaker 1: what people define as infrastructure in a colloquial sense. I

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Speaker 1: think that's where it's going to be very difficult to

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Speaker 1: get even some moderate Democrats behind this. Why don't know

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Speaker 1: how you're going to pay for three trillion dollars of

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Speaker 1: a plan and not come out and say how you're

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Speaker 1: going to pay for it. White House Press Secretary Jen

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Speaker 1: Saki was asked about this and uh and she was

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Speaker 1: asked saying that the infrastructure plan void include ways to

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Speaker 1: pay for any spending. Take a listen to the sound

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Speaker 1: on the spending from Hockey. The President will be laying

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Speaker 1: out the first of two equally critically critical packages to

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Speaker 1: rebuild our economy and create better paying jobs for American workers.

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Speaker 1: He'll talk this week about investments we need to make

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Speaker 1: in domestic manufacturing, R and D, the caregiving economy, and infrastructure.

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Speaker 1: I mean, boy Matheson and your Republican neck of the woods,

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Speaker 1: can you find me one republic Name me a Republican

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Speaker 1: who would back three trillion dollars worth of spending. Yeah,

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Speaker 1: and if anybody believes that there's a way to pay

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Speaker 1: for those three trillion to avoid the pun I do

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Speaker 1: have a bridge I could sell you. Uh, it's just

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Speaker 1: not reality, and I think that's the biggest challenge. The

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Speaker 1: interesting thing is that there are a lot of Republicans

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Speaker 1: who absolutely agree that we need to do a boatload

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Speaker 1: of work on the infrastructure. But it's a genie's point.

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Speaker 1: If we start adding in all of these things that

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Speaker 1: are not related to it, it unravels very very fast.

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Speaker 1: And so if we're talking about steal and concrete and roads,

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Speaker 1: and uh, doing things that actually will make a difference

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Speaker 1: for the American people, will create those kind of jobs,

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Speaker 1: I think you could get the rarity of some bipartisan

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Speaker 1: work together. But just as we saw in the stimulus package.

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Speaker 1: When you start throwing in all kinds of things, including

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Speaker 1: in the stimulus package bailouts for several of those unions

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Speaker 1: that we're having struggles, Uh, that's gonna be a problem

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Speaker 1: that's not gonna make its way through the Senate and

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Speaker 1: get to the President's desk. Well, I mean even beyond that.

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Speaker 1: I think I was speaking who was a Congressman, Warren Davidson,

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Speaker 1: a Republican from Ohio. Uh, and he said exactly the

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Speaker 1: same thing. I mean, here's a member of the Freedom Caucus.

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Speaker 1: And and he was very much you know, saying, how

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Speaker 1: how are you going to pay for for three trillion dollars?

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Speaker 1: Here's another infrastructure story. Did you see this, genie? The

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Speaker 1: Suez Canal? The ever Direct finally got moved. Do you

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Speaker 1: know how do you know how big that that both

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Speaker 1: that got stuck in the Suez Canal? Is? Genie? They

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Speaker 1: know this is this is a this is what do

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Speaker 1: you have like a pop quiz for professors? You know

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Speaker 1: how many feet? I have no idea, like twenty five

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Speaker 1: football fields? I have no idea. Cancer it is longer

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Speaker 1: than the Empire State building. I didn't realize the boat

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Speaker 1: could be that big here. I am thinking, it's just

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Speaker 1: like a sailboat that got knocked over. It's taller than

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Speaker 1: the Empire State Building. How much cargo? Another pop quiz

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Speaker 1: twenty seconds up, Professor No, No, it's jeez. How much cargo?

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Speaker 1: One billion dollars? Sometimes? Really? This is the broadcasting live

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Speaker 1: from our nation's capital, Bloomberg to New York, Bloomberg eleven

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Speaker 1: Frio does San Francisco, Bloomberg nine six to the Country,

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Speaker 1: Serious XM General one nineteen and around the globe, the

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Speaker 1: Bloomberg Business app and Bloomberg dot Com. This is Bloomberg

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Speaker 1: Sound On with Kevin cli We're gonna keep talking about

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Speaker 1: infrastructure as Noah Smith is set to join us. My

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Speaker 1: name is Kevin Curley. I'm the chief Washington correspondent for

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Speaker 1: Bloomberg Television and for Bloomberg Radio with my pal, Professor

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Speaker 1: Genie Schanzen No Bloomberg Policy contributor, Genie. I gotta keep

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Speaker 1: talking about the Suez Canal story because I'm obsessed. I mean,

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Speaker 1: I don't know if this was the story I was

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Speaker 1: geeking out over over all week, and it finally came

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Speaker 1: to a dramatic conclusion. The week long saga I'm in

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Speaker 1: my terminal to dislodge a giant container ship stuck in

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Speaker 1: the Suez Canal reached an end Monday, as the vessel

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Speaker 1: was freed and traffic resumed through the vital waterway. Authorities

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Speaker 1: expected operations to return to normal within days. Hundreds of

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Speaker 1: vessels carrying everything from oil to livestock to I kea

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Speaker 1: furniture or four are still wait in line after the

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Speaker 1: ever Given that was the name of the boat ever

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Speaker 1: Given became stuck in the canal. Jennie were you were

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Speaker 1: you as obsessed with the story as I was. I was,

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Speaker 1: and I didn't know the facts the way you do

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Speaker 1: in terms of how the cargo and the amount and

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Speaker 1: the size, But I was, I think primarily because the

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Speaker 1: idea in this day and age, that one boat, one

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Speaker 1: ship could sort of wreak all this havoc and have

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Speaker 1: the potential of up ending oil markets and other things

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Speaker 1: is absolutely astonishing to me, and I think for me

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Speaker 1: as we move into infrastructure week, um, it really does

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Speaker 1: raise questions about sort of this sort of you know,

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Speaker 1: for sort of way that we do business across the world,

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Speaker 1: not just in the United States, and how much of

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Speaker 1: it is dependent on our ability to move these goods,

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Speaker 1: move these supplies, and one thing like this could really

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Speaker 1: up end markets in a very real way. I think

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Speaker 1: it's fascinating o struck by those folks. If you're in

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Speaker 1: your car and your way on your way home from work,

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Speaker 1: here's a little fast fact for you. When you look

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Speaker 1: up at the moon tonight, salvage teams use the tides

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Speaker 1: and a full moon to pull the ship from deep

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Speaker 1: inside the sandy bank, and it's snatched into last week

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Speaker 1: amid high winds and poor visibility. So they literally that

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Speaker 1: to me, was so fascinating that they utilized the moon. Genie,

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Speaker 1: where's the technology? This is what I mean. Some of

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Speaker 1: this just sound they are, I guess sometimes this just

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Speaker 1: sounds very sort of old school, and that's what I

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Speaker 1: think has really captured so much attention to it. All right. Well,

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Speaker 1: the answers also are sometimes in Noah Smith's Bloomberg opinion columns.

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Speaker 1: He's got this great column and he's on the phone

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Speaker 1: with us. Noah, thanks for joining us on infrastructure. Biden

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Speaker 1: reads tools the US Economy with Infrastructure. President Joe Biden's

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Speaker 1: next major legislative initiative, Noah Rights, is called an Infrastructure bill,

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Speaker 1: but it's actually something bigger. It's about transforming the nation

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Speaker 1: to better fit the needs of our future economy, in

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Speaker 1: other words, industrial policy. But noah, can we afford it?

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Speaker 1: Oh yeah, we can afford it. Sure, Uh yeah. I mean,

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Speaker 1: you know, some of the stuff is stuff that we

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Speaker 1: don't need to raise taxes for it all. You know,

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Speaker 1: if you just if you just borrow to um, you know,

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Speaker 1: to to build things like solar power, national grid charging

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Speaker 1: stations or e V stuff like that, you know it's

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Speaker 1: going to pay itself back eventually. But then there's other things,

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Speaker 1: you know, in lots of industrial policies you do need

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Speaker 1: taxes for. But either way we can afford it. No,

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Speaker 1: it's so good to talk to you. And what what

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Speaker 1: a great piece this is. I was so happy when

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Speaker 1: they said we could. I was going to be able

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Speaker 1: to talk to you because one thing I've been fascinated by,

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Speaker 1: and you address this to a certain extent, is that

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Speaker 1: apparently Joe Biden met with historians not that long ago

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Speaker 1: and talked about sort of you know, his you know,

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Speaker 1: who is he going to model himself after? And some

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Speaker 1: of the talk was of course fbr fdr um, And

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Speaker 1: you talk a bit about Eisenhower, and when you know,

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Speaker 1: you read the transformative nature of what you're talking about,

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Speaker 1: it really does hearken back to an FDR or an Eisenhower.

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Speaker 1: So could you talk a little bit about the massive

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Speaker 1: scope of what he intends to do if if he's

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Speaker 1: able to get it through Congress. Yeah. So basically there's

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Speaker 1: just a whole lot of moving parts to this initiative

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Speaker 1: and the goal. I mean, usually we think of infrastructure

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Speaker 1: just kind of rate you know, repairing the roads and

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Speaker 1: bridges and things like that, and that is in there,

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Speaker 1: but there's a lot more that's in there too. For example,

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Speaker 1: there's a big expansion of childcare. So people in the

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Speaker 1: Biden administration really believe that care jobs, you know, essentially

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Speaker 1: taking care of kids, old people, and sick people are

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Speaker 1: going to provide a large percentage of employment in the

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Speaker 1: future because that's something robots can't do. And so this big,

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Speaker 1: you know, expansion of childcare not only helps bring women

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Speaker 1: into the workforce because women's labor force participation declining, but

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Speaker 1: would also sort of move us towards this mass employment

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Speaker 1: care jobs kind of stuff. There's so that's a you know,

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Speaker 1: that's a big deal right there. There's also um a

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Speaker 1: lot of stuff for refurbishing existing infrastructure and building new infrastructure.

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Speaker 1: So instead of just repairing the roads and bridges we've got,

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Speaker 1: we're going to build you know, a national electrical grid.

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Speaker 1: We're going to build a system of electric vehicle charging

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Speaker 1: stations so we can quickly switch to electric cars. And

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Speaker 1: then we're going to refit building so that they you know,

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Speaker 1: are more energy efficient and they they switched to modern

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Speaker 1: power sources something like that. So there's a lot of

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Speaker 1: new infrastructure stuff. And then there's stuff about you know,

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Speaker 1: reshoring supply chains uh into America and rebuilding this industrial

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Speaker 1: commons that I think falls directly under the purview of

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Speaker 1: kind of classic industrial policy, government promoting uh, you know,

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Speaker 1: specific industries and specific places. I think it's a really

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Speaker 1: smart alum, and I wish I had more time, but

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Speaker 1: you've gotta go check it out. It's on the Bloomberg

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Speaker 1: terminal Noah Smith, Bloomberg Opinion Columnists. He goes on to

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Speaker 1: write about how UH the United States similarly pushed for

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Speaker 1: similar policies back during the Russian Cold War, and he

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Speaker 1: writes that it's not as big a risk as the

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Speaker 1: first time the US tried this approach because we got

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Speaker 1: better transportation, more housing, cheaper energy, more of research, and

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Speaker 1: more education. These were all of the successes during the

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Speaker 1: Cold War. Biden isn't so much charting a course into

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Speaker 1: the unknown as tweaking a tried and true approach. I'm Kevin, silly.

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Speaker 1: This is Bloomberg. You're listening to Bloomberg Sound On with

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Speaker 1: Kevin on Bloomberg Radio. My name is Kevin Cerealia. I'm

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Speaker 1: the chief Washington correspondent for Bloomberg Television and for Bloomberg Radio,

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Speaker 1: accompanied by Professor Jennie sean Zo Bloomberg Politics and Policy contributor. Gennie.

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Speaker 1: I don't know. I'm still optimistic off of all this

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Speaker 1: good news with the pandemic era ending. Did you see

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00:25:21,840 --> 00:25:23,920
Speaker 1: this article? I think it was the Washington Post. I

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00:25:23,960 --> 00:25:26,160
Speaker 1: sent it to my mother. I said, Mom, it's gonna

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00:25:26,160 --> 00:25:29,679
Speaker 1: be the Roaring twenties again. Everyone's starting to compare the

432
00:25:29,720 --> 00:25:31,760
Speaker 1: post pandemic. I know we're not out of it yet.

433
00:25:31,800 --> 00:25:36,040
Speaker 1: I know, don't tweet at mantrolls, but that it's it's

434
00:25:36,040 --> 00:25:38,480
Speaker 1: gonna be like the twenties when this thing's over. Genie,

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00:25:38,640 --> 00:25:41,119
Speaker 1: I gotta I don't know what that means I'm not

436
00:25:41,160 --> 00:25:44,120
Speaker 1: really good at fashion, as I've been told, but maybe

437
00:25:44,160 --> 00:25:46,520
Speaker 1: i'll I don't know, I I don't even I can't

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00:25:46,520 --> 00:25:48,880
Speaker 1: even finish that line. But it's gonna be the Roaring twenties.

439
00:25:49,600 --> 00:25:52,959
Speaker 1: I love the fashion. I hope we don't end up

440
00:25:53,000 --> 00:25:55,080
Speaker 1: in in a depression the way we did after the

441
00:25:55,160 --> 00:25:59,000
Speaker 1: Roaring twenties. Way to bring me down. I'm sorry, Kevin

442
00:25:59,160 --> 00:26:02,960
Speaker 1: and Fallen. I hope your mom was very excited Chicky, Right,

443
00:26:03,040 --> 00:26:07,560
Speaker 1: is that so? We love legendary? The legendary. So no,

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00:26:07,800 --> 00:26:10,440
Speaker 1: the fashion is great. I've heard this analogy, of course,

445
00:26:10,480 --> 00:26:13,240
Speaker 1: over and over again. Right because the Spanish flu people

446
00:26:13,280 --> 00:26:15,000
Speaker 1: are pent up. They want to get out, they want

447
00:26:15,040 --> 00:26:17,720
Speaker 1: to celebrate, and of course I want to too. But

448
00:26:18,080 --> 00:26:20,800
Speaker 1: we have to listen to the president and be cautious. Kevin,

449
00:26:21,240 --> 00:26:23,360
Speaker 1: I'm like a bull behind the gate. Let me out

450
00:26:24,880 --> 00:26:30,359
Speaker 1: of d C. I'm frightened. Oh no, Chicky sent me.

451
00:26:30,400 --> 00:26:33,320
Speaker 1: That's my mom, folks. She sent me uh Easter bread

452
00:26:33,400 --> 00:26:37,280
Speaker 1: from my favorite South Philly bakery last week. It's already gone.

453
00:26:37,400 --> 00:26:39,200
Speaker 1: I told Taylor Riggs, I gotta go on along to

454
00:26:39,320 --> 00:26:42,960
Speaker 1: run anyway, big story on the Bloomberg are actually in

455
00:26:42,960 --> 00:26:45,199
Speaker 1: the Wall Street Journal over the weekend. I'm sure you

456
00:26:45,240 --> 00:26:49,680
Speaker 1: saw this, Genie, but the new trade representative, Katherine Tye.

457
00:26:49,680 --> 00:26:52,600
Speaker 1: She is the U s Trade Representative, Katherine Tye. She

458
00:26:52,720 --> 00:26:57,720
Speaker 1: says that the United States is not ready to lift

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00:26:57,800 --> 00:27:01,760
Speaker 1: China tarriffs. In her first interview since her Senate confirmation,

460
00:27:01,880 --> 00:27:05,320
Speaker 1: Miss Tye said she recognized that the tariffs can exact

461
00:27:05,320 --> 00:27:08,439
Speaker 1: a toll on US businesses and consumers, though proponents have

462
00:27:08,560 --> 00:27:12,719
Speaker 1: said that they also helped shield companies from subsidized foreign competition.

463
00:27:13,320 --> 00:27:16,160
Speaker 1: She's told the Journal quote, I have heard people say,

464
00:27:16,200 --> 00:27:20,639
Speaker 1: please just take these tariffs off. But yanking off tariffs,

465
00:27:20,640 --> 00:27:24,960
Speaker 1: she warned, could harm the economy unless changes communicated in

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00:27:25,000 --> 00:27:27,760
Speaker 1: a way so that the actors in the economy can

467
00:27:27,800 --> 00:27:32,880
Speaker 1: make adjustments. Wow, Jennie Shawn Zano, big news. And one

468
00:27:32,920 --> 00:27:35,280
Speaker 1: thing that struck me when I read that was that

469
00:27:35,400 --> 00:27:37,840
Speaker 1: there is a way in which there is a big

470
00:27:37,880 --> 00:27:41,840
Speaker 1: difference in terms of the rhetoric from the Biden administration

471
00:27:41,880 --> 00:27:45,280
Speaker 1: and not just in terms of Catherine tie but I'm

472
00:27:45,280 --> 00:27:48,600
Speaker 1: thinking also Anthony B. Lincoln. This weekend, I believe it

473
00:27:48,720 --> 00:27:52,119
Speaker 1: was making the case that regardless or at this point,

474
00:27:52,440 --> 00:27:55,000
Speaker 1: there's no thought of of you know, sort of pushback

475
00:27:55,080 --> 00:27:58,000
Speaker 1: against China for any any role that played in COVID,

476
00:27:58,080 --> 00:28:00,640
Speaker 1: and he sort of walked that back on CNN over

477
00:28:00,680 --> 00:28:02,600
Speaker 1: the weekend or or you know, sort of said he

478
00:28:02,600 --> 00:28:05,359
Speaker 1: wouldn't he didn't want to engage in that. And so,

479
00:28:05,640 --> 00:28:08,840
Speaker 1: you know, there is some ways in which we see

480
00:28:09,280 --> 00:28:13,240
Speaker 1: rhetorical differences between the Trump administration and the Biden administration,

481
00:28:13,560 --> 00:28:16,720
Speaker 1: and yet on the straight off policy, some of those

482
00:28:16,760 --> 00:28:20,080
Speaker 1: differences are not coming to fruition. And you know the

483
00:28:20,440 --> 00:28:22,680
Speaker 1: Prince and Saudi Arabia is a good example of that,

484
00:28:23,000 --> 00:28:27,119
Speaker 1: well precisely. And then you've got this other story on

485
00:28:27,160 --> 00:28:30,840
Speaker 1: the bloomberg. China hits US Canada with sanctions and Shinjang

486
00:28:30,920 --> 00:28:34,600
Speaker 1: fall out. A quarrel over allegations of human rights abuses

487
00:28:34,640 --> 00:28:39,800
Speaker 1: in China continued as Beijing announced retaliatory sanctions on individuals

488
00:28:40,120 --> 00:28:43,400
Speaker 1: and the US and Canada and the corporate fallout spread.

489
00:28:44,240 --> 00:28:46,920
Speaker 1: I mean, it's interesting. I mean, you've got all of

490
00:28:46,960 --> 00:28:51,160
Speaker 1: these back and forth going on, but the United States

491
00:28:51,520 --> 00:28:55,200
Speaker 1: is not bending, uh, And it looks like the Communist

492
00:28:55,240 --> 00:28:59,720
Speaker 1: Party of China's starting to react to that. Yes, and

493
00:29:00,040 --> 00:29:02,880
Speaker 1: in um, you know, you have blinken out there. He

494
00:29:03,120 --> 00:29:05,719
Speaker 1: is you know, somebody who obviously has been around a

495
00:29:05,720 --> 00:29:09,200
Speaker 1: long time knows these players. Arguably a secretary of State

496
00:29:09,240 --> 00:29:11,880
Speaker 1: we haven't had in the modern era, who knows the

497
00:29:11,920 --> 00:29:14,560
Speaker 1: president he is working for better than this one, and

498
00:29:14,600 --> 00:29:18,640
Speaker 1: who's closer to him. And so what happens visa via

499
00:29:18,760 --> 00:29:21,800
Speaker 1: China I think is still a big question. One thing

500
00:29:21,840 --> 00:29:23,840
Speaker 1: we do know so far is they were putting a

501
00:29:23,880 --> 00:29:28,960
Speaker 1: lot of stock in alliances and relationships. But beyond that, again,

502
00:29:29,040 --> 00:29:32,480
Speaker 1: the cold policy of this, I'm not clear how it's

503
00:29:32,480 --> 00:29:34,920
Speaker 1: going to differ, if at all yet from what Trump

504
00:29:35,000 --> 00:29:37,840
Speaker 1: was doing. Well do you think I don't think it's

505
00:29:37,880 --> 00:29:40,960
Speaker 1: going to I mean, and even there is another report

506
00:29:41,000 --> 00:29:43,200
Speaker 1: in the Wall Street Journal over the weekend just about

507
00:29:43,240 --> 00:29:46,120
Speaker 1: the pressure that US businesses and Limber because chronicled this

508
00:29:46,240 --> 00:29:49,080
Speaker 1: as well. Uh, the pressure that US businesses are going

509
00:29:49,120 --> 00:29:51,080
Speaker 1: to start to feel about making a choice. Are you

510
00:29:51,120 --> 00:29:54,400
Speaker 1: going to stand with democratic values and not the political

511
00:29:54,400 --> 00:29:59,680
Speaker 1: party democracy values or communism values, or as the Blincoln

512
00:30:00,160 --> 00:30:07,360
Speaker 1: States Department has um characterized it, democracies versus autocracies. Jenny, yes,

513
00:30:07,440 --> 00:30:10,760
Speaker 1: And and talk about an issue of political risk that

514
00:30:10,880 --> 00:30:15,520
Speaker 1: is staring these organizations and corporations, public and private down

515
00:30:15,640 --> 00:30:18,720
Speaker 1: you know, looking at them looming far ahead. I think

516
00:30:18,760 --> 00:30:21,800
Speaker 1: it was somebody called it boat spotting, right, You're supposed

517
00:30:21,840 --> 00:30:24,160
Speaker 1: to be able to spot those risk boats coming down,

518
00:30:24,440 --> 00:30:26,000
Speaker 1: and this is one of them. If they are going

519
00:30:26,040 --> 00:30:29,200
Speaker 1: to be called on to make a choice. And you know,

520
00:30:29,360 --> 00:30:32,880
Speaker 1: from my my perspective, I think that may hit you know,

521
00:30:32,960 --> 00:30:35,840
Speaker 1: consumer facing industries in a way it may not fit

522
00:30:36,040 --> 00:30:38,880
Speaker 1: hit others because of course they are the ones whom

523
00:30:38,880 --> 00:30:42,680
Speaker 1: if the public latches onto this could really retaliate against them.

524
00:30:42,920 --> 00:30:44,880
Speaker 1: I think that's a bit down the pike, but I

525
00:30:44,920 --> 00:30:46,880
Speaker 1: think it is something they're going to have to keep

526
00:30:46,920 --> 00:30:50,000
Speaker 1: in mind. And it's not just organizations. Look at you

527
00:30:50,000 --> 00:30:53,200
Speaker 1: know what the pipeline in Germany. Um, you know as

528
00:30:53,200 --> 00:30:56,440
Speaker 1: the United States once again under the Biden administration is

529
00:30:56,440 --> 00:30:59,959
Speaker 1: not keen on this, this this pipeline and is asking

530
00:31:00,080 --> 00:31:03,480
Speaker 1: Germany to do something that many Germans are starting to

531
00:31:03,840 --> 00:31:07,680
Speaker 1: you know, push up against. It's it's really remarkable the

532
00:31:07,800 --> 00:31:12,280
Speaker 1: United States uh AS just start last weekend again over

533
00:31:12,320 --> 00:31:17,160
Speaker 1: the Shenjang Province region has accused China of targeting companies

534
00:31:17,200 --> 00:31:21,000
Speaker 1: in the state led social media campaign against companies that

535
00:31:21,040 --> 00:31:23,520
Speaker 1: are are moving out of the Shenjang Province because of

536
00:31:23,560 --> 00:31:27,280
Speaker 1: those human rights abuses. You know, Uh you mentioned Bill

537
00:31:27,360 --> 00:31:29,040
Speaker 1: Maher at the top of the show. A friend of

538
00:31:29,080 --> 00:31:32,600
Speaker 1: mine actually over the weekend, I was at Milano and

539
00:31:32,880 --> 00:31:36,239
Speaker 1: was telling me about uh, Christopher Krabs. He was on

540
00:31:36,320 --> 00:31:38,560
Speaker 1: Bill Maher. I don't know if you watched it, but

541
00:31:38,880 --> 00:31:42,240
Speaker 1: he of course is the former director of the Cybersecurity

542
00:31:42,240 --> 00:31:49,720
Speaker 1: and Infrastructure Security Agency. UM. He was the official mind

543
00:31:49,840 --> 00:31:55,800
Speaker 1: you who in the Trump administration, uh declared the election

544
00:31:55,880 --> 00:31:59,080
Speaker 1: the most secure in American history and then got fired

545
00:31:59,120 --> 00:32:02,240
Speaker 1: by now former president and Trump. But he talked about

546
00:32:02,360 --> 00:32:08,520
Speaker 1: just cyber security as a whole and cryptocurrency, and again

547
00:32:08,560 --> 00:32:10,920
Speaker 1: it's a thread that we've covered on this program. But

548
00:32:10,960 --> 00:32:12,840
Speaker 1: he not just talked about He not only talked about

549
00:32:12,880 --> 00:32:15,360
Speaker 1: Russia but also China and how there are no rules

550
00:32:15,360 --> 00:32:18,800
Speaker 1: of the road at all. So I did not see

551
00:32:18,840 --> 00:32:22,440
Speaker 1: that episode, but it is UMM. I love Bill Maher.

552
00:32:22,520 --> 00:32:25,040
Speaker 1: I'm gonna go back and watch it. UM. And this

553
00:32:25,080 --> 00:32:29,120
Speaker 1: is yeah texted to me please. UM. This is something

554
00:32:29,160 --> 00:32:31,480
Speaker 1: that of course we're hearing an awful lot about in

555
00:32:31,600 --> 00:32:34,400
Speaker 1: d C these days, because of course Biden still has

556
00:32:34,440 --> 00:32:38,320
Speaker 1: to make an appointment there and people are starting to say,

557
00:32:38,400 --> 00:32:41,320
Speaker 1: you know, we are sitting ducks essentially, as we have

558
00:32:41,600 --> 00:32:46,040
Speaker 1: no you know, lead UM cyber security UM expert in

559
00:32:46,040 --> 00:32:48,400
Speaker 1: in place in terms of the administration, they still have

560
00:32:48,520 --> 00:32:51,960
Speaker 1: to go through Senate confirmation and so that's a very

561
00:32:52,000 --> 00:32:54,800
Speaker 1: real threat. UM. I'm going to send you a clip, Kevin,

562
00:32:54,880 --> 00:32:58,400
Speaker 1: because his rant about US China relations the other day

563
00:32:58,960 --> 00:33:02,160
Speaker 1: is one that is really really worth watching as well.

564
00:33:02,480 --> 00:33:04,680
Speaker 1: I think folks are starting to pick up on it

565
00:33:04,800 --> 00:33:08,440
Speaker 1: in the mainstream press personally, just from my little perch

566
00:33:08,520 --> 00:33:11,400
Speaker 1: here in Washington, d C. I do think that that

567
00:33:11,480 --> 00:33:13,760
Speaker 1: more mainstream outlets are are starting to cover it, just

568
00:33:13,880 --> 00:33:16,440
Speaker 1: even beyond the business side of it, but also the

569
00:33:16,560 --> 00:33:19,280
Speaker 1: human rights abuses, and I think it's it's going to

570
00:33:19,360 --> 00:33:22,480
Speaker 1: be the narrative to watch. I'm I'm I truly believe that,

571
00:33:22,880 --> 00:33:26,360
Speaker 1: you know, when you've got China consumers threatening to boycott

572
00:33:27,080 --> 00:33:30,680
Speaker 1: H and M and Nike uh and there and businesses

573
00:33:30,720 --> 00:33:33,960
Speaker 1: are now caught in a bind, you know, and Beijing

574
00:33:34,000 --> 00:33:36,760
Speaker 1: in the West are hardening their stances on the crackdowns

575
00:33:36,800 --> 00:33:39,200
Speaker 1: in the Shinjang province. I keep bringing it up, but

576
00:33:39,280 --> 00:33:42,760
Speaker 1: I think it bears repeating. The NBA. Will the US

577
00:33:42,800 --> 00:33:49,040
Speaker 1: Olympic National Committee follow the NBA's um actions or lack

578
00:33:49,120 --> 00:33:53,360
Speaker 1: thereof with business decisions and what happened in China when

579
00:33:53,360 --> 00:33:56,200
Speaker 1: the boycott happened. Jennie, I think it's you know, that's

580
00:33:56,200 --> 00:33:57,800
Speaker 1: the one to watch. It's one to watch. And you

581
00:33:57,840 --> 00:33:59,600
Speaker 1: had a guest on I think it was last week

582
00:33:59,600 --> 00:34:01,760
Speaker 1: who made the case maybe we should go there and

583
00:34:01,840 --> 00:34:03,760
Speaker 1: not sort of step back, which I thought was a

584
00:34:03,800 --> 00:34:08,000
Speaker 1: fascinating argument as well. Well, it's funny because I told

585
00:34:08,040 --> 00:34:09,759
Speaker 1: that story to a friend over the weekend. I said,

586
00:34:09,760 --> 00:34:13,040
Speaker 1: you know, look, you've got Colin Kaepernick taking the knee

587
00:34:13,920 --> 00:34:17,960
Speaker 1: and launching a national conversation about race relations in the

588
00:34:18,040 --> 00:34:20,600
Speaker 1: United States. What if that same thing were to happen

589
00:34:21,239 --> 00:34:24,680
Speaker 1: when US athletes go to Beijing. It was a remarkable

590
00:34:24,719 --> 00:34:27,640
Speaker 1: point that Lester months In, the former senior advisor to

591
00:34:27,719 --> 00:34:30,480
Speaker 1: now former Chairman of the Farm Relations Committee Bob Corker,

592
00:34:30,560 --> 00:34:33,960
Speaker 1: made to us last week. And you know, we'll see

593
00:34:34,000 --> 00:34:38,839
Speaker 1: what happens, but that conversation is only only going to continue.

594
00:34:39,360 --> 00:34:42,600
Speaker 1: March is Women's History month that Bloomberg Radio is looking

595
00:34:42,640 --> 00:34:44,600
Speaker 1: back at some of those who have played a vital

596
00:34:44,719 --> 00:34:47,920
Speaker 1: role in American history. Here with today's installment is Bloomberg's

597
00:34:48,000 --> 00:34:53,080
Speaker 1: Ranita Young on this day in women's history, Catherine Colbeck

598
00:34:53,160 --> 00:34:56,759
Speaker 1: becomes the first woman elected as premier in Canada. She

599
00:34:56,920 --> 00:35:00,200
Speaker 1: led Prince Edward Island and was among female pioneer years

600
00:35:00,239 --> 00:35:04,080
Speaker 1: in Canadian politics. Despite growing up hearing politics was not

601
00:35:04,160 --> 00:35:07,600
Speaker 1: a place for women, Callback successfully ran for office in

602
00:35:07,600 --> 00:35:10,960
Speaker 1: the House of Commons in nineteen seventy four, serving for

603
00:35:11,040 --> 00:35:14,360
Speaker 1: four years. For a decade after that, Callback worked in

604
00:35:14,360 --> 00:35:19,360
Speaker 1: her family's hardware, building, furniture and appliances business. Returning to politics,

605
00:35:19,360 --> 00:35:24,040
Speaker 1: and although two other women reached premier status before her

606
00:35:24,200 --> 00:35:28,319
Speaker 1: through party or legislative selection, Callback was unique because she

607
00:35:28,440 --> 00:35:31,680
Speaker 1: became the first woman in Canada elected premier in a

608
00:35:31,800 --> 00:35:36,040
Speaker 1: general election. That's today in women's history. I'm Marinita Young

609
00:35:36,320 --> 00:35:40,520
Speaker 1: Bloomberg Radio and coming up all week, we are going

610
00:35:40,560 --> 00:35:44,160
Speaker 1: to continue to talk infrastructure every development coming out of

611
00:35:45,440 --> 00:35:51,440
Speaker 1: President Biden's UH administration. Thanks to my friend, my pal

612
00:35:51,560 --> 00:35:56,640
Speaker 1: my Bloomberg policy contributor Professor jenishn Zano for hanging out

613
00:35:56,680 --> 00:36:00,239
Speaker 1: with me this hour. And I'm Kevin Surly this it's

614
00:36:00,280 --> 00:36:00,680
Speaker 1: not bad